Commercial, Energy Efficiency, GHG Emissions - September 1, 2020
Mastercard cuts emissions 43%
Mastercard announced in their newly released Corporate Sustainability Report that they lowered Scope 1 and 2 emissions by 43% and Scope 3 emissions by 40% between 2016 and 2019.
In the report, the financial provider released their new target: an absolute Scope 1 and 2 emissions reduction of 38% by 2025 from their 2016 baseline. Their targets were approved by the Science Based Target initiative for its alignment with the 1.5-degree climate trajectory.
In 2019, Mastercard also joined RE100 and committed to sourcing 100% renewable energy to power their global operations. By the end of the year, the company generated over 2,600 MWh of solar energy, which made up 3% of their renewables use. Unbundled renewable energy credits made up 87%, with 84,824 MWh, and direct renewable procurement made up the remaining 10%, with 9,817 MWh.
“The quality and nature of our own future are deeply and inextricably linked to the health and well-being of our planet,” CEO Ajay Banga said in an opening letter. “If we want to keep growing and thriving as individuals, corporations or countries, we have to do better. That’s why we’re accelerating our plan to improve our environmental footprint and putting the power of our network of partners — consumers included — behind a ‘Priceless Planet Coalition’.”
Earlier in 2020, Mastercard launched their Priceless Plant Coalition, and the project has pledged to plant 100 million trees over five years.
Mastercard also pursued the sustainability certification of their buildings, and now 85% of their global workspace meets a regional or international green certification standard.